LYNNWOOD RETAIL INVESTMENT MEMORANDUM
[Pages:23]44th Ave W
SOUND TRANSIT LYNNWOOD LINK EXTENSION PLANNED FOR 2023
LYNNWOOD RETAIL INVESTMENT
Alderwood Mall Blvd
160,000 VPD
196th St SW
PARK & RIDE / LYNNWOOD TRANSIT CENTER
OFFERING MEMORANDUM
LYNNWOOD RETAIL INVESTMENT
Lynnwood, WA
LYNNWOOD RETAIL INVESTMENT
Table of Contents
01
Executive Summary
The Offering Investment Highlights Property Summary Retail Aerial Site Plan
02
Financial Analysis
Pricing Summary Lease Abstract
03 Tenant Profile
04
Location & Market Overview
Site Overview Location Map Demographics Zoning Info Lynnwood Link Extension
Contact Information
Erik Swanson eswanson@ 206.296.9628
Mike King mking@ 206.296.9624
Corey Sollom csollom@ 206.296.9620
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews.
This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, current or past tax payments, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies.
LYNNWOOD RETAIL INVESTMENT
01
Executive Summary
The Offering Investment Highlights
Property Summary Retail Aerial Site Plan
The Offering
Situated at the intersection of Alderwood Mall Parkway and 40th Avenue West in Lynnwood, Washington, the property is comprised of a 5,165 square foot stand alone Chase Bank and a 5,170 square foot retail building currently occupied by a furniture store and a dentist.
The Chase Bank building includes a two lane drive through. Originally a Washington Mutual branch, this property has continuously operated as a bank since 1981. Chase recently extended their NNN lease for an additional 5 years through June 2020. The adjacent retail building is currently occupied by a dentist office and a furniture store on short term leases.
This 0.86 acre site is prominently visible to more than 160,000 passing vehicles on Interstate 5. It is zoned City Center Core which includes a high-rise capable height limit of up to 350 feet and a FAR of 10 with incentive zoning. Less than a block away, construction is scheduled to begin in 2018 on the Lynnwood Link Extension for light rail between Seattle and Lynnwood. The rider projections are estimated between 63,000 - 74,000 riders each weekday by 2035. Today, more than 15,000 cars pass directly by this property every day on Alderwood Mall Parkway and 40th Avenue West.
Investment Summary
Offering Price $3,010,000
Occupancy
100%
Price per SF
$294.09
Property SF
10,235
Land SF
37,462
LYNNWOOD RETAIL INVESTMENT
KIDDER MATHEWS | OFFERING MEMORANDUM 4
LYNNWOOD RETAIL INVESTMENT
Modern Used Furniture
Long Term Upside Owner user or investment site with long term redevelopment upside. Strong Credit Tenant Passive income from Chase Bank provides reliable cash flow for owner. Excellent Visibility on Signalized Hard Corner Prominent location with exposure to 160,000 vehicles per day on Interstate 5. Future Transit Oriented Development Potential Walking distance to Lynnwood park and ride and future light rail station. Favorable Zoning Existing drive through location. Core Commercial zoning allows for multi-story development. Strong Demographics Over 133,000 people within 3 miles with above average population and household growth rate of 7%.
KIDDER MATHEWS | OFFERING MEMORANDUM 5
PROPERTY SUMMARY
Address
4001 Alderwood Mall Blvd, Lynnwood, WA 98036
County Gross Leaseable Area Land Area Year Built
Snohomish 10,235 SF 0.86 Acre 1981
LYNNWOOD RETAIL INVESTMENT
Parking Signage Access Frontage
?48 Spaces Pylon & Building Signs 2 Ingress/Egress Driveways 200'+ on 40th Ave W | 165'+ on Alderwood Mall Blvd
KIDDER MATHEWS | OFFERING MEMORANDUM 6
196th St SW
LYNNWOOD RETAIL INVESTMENT
40th Ave W
Alderwood Mall Blvd
LYNNWOOD RETAIL INVESTMENT
KIDDER MATHEWS | OFFERING MEMORANDUM 7
44th Ave W Alderwood Mall Pkwy
ALDERWOOD MALL
PARK & RIDE / LYNNWOOD TRANSIT CENTER
DANIA
LYNNWOOD RETAIL INVESTMENT
LYNNWOOD RETAIL INVESTMENT
164th St SW
KIDDER MATHEWS | OFFERING MEMORANDUM 8
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